[Start of Market Research Report Handling] World Market Report on Industrial Robots - 2029

The market size for industrial robots is projected to grow from $16.89 billion in 2024, with a CAGR of 11.7% during the forecast period, reaching $29.43 billion by 2029.
Factors driving the growth of the industrial robot market include the increasing deployment of Industry 4.0 technologies, rapid advancements in factory automation technologies, and the rising automation in electronics manufacturing. On the other hand, the setup of high-end robots requires extensive training and expertise, and the complexity associated with integrating cobots into diverse workstations poses challenges for the market in the near future. For market entrants, the emergence of Industry 5.0 is expected to present significant growth opportunities.
This is largely due to their widespread adoption in the automotive industry for activities such as moving vehicle bodies along assembly lines and installing mechanical and electronic components. Additionally, the growth of the e-commerce industry has brought about revolutionary changes in logistics and warehousing, leading to high demand for automated material handling systems.
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